collapse

Legal claims against Lehman were permitted in Australia

September 28, 2009 - 1:52am | Law aspects | News

IMF (Australia) Ltd reported that an Australian court permitted investors to pursue financial claims against collapsed U.S. investment bank Lehman Brothers in Australia and elsewhere. Now town councils and others which had lost money in collateralized debt obligations marketed and issued by Lehman can submit legal claims to recover their losses.

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Recession has come to Australia after all, RBA says

April 21, 2009 - 3:00am | Analytics | News

On Tuesday, Reserve Bank of Australia’s governor, Glenn Stevens, stated Australia is in the economic recession now. He said to business leaders in Adelaide that never before the country had managed to avoid a global economic collapse. Mr. Stevens admitted the current state of the economy a day after Prime Minister Kevin Rudd said it was "inevitable" the country would be dragged into recession caused by the global economic crisis.

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Crisis is not in economy but in our heads!

January 16, 2009 - 6:20pm | Caricatures

collapse | fiance | gas | unemployement | world financial crisis

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Iceland’s banking system has suffered as never before

December 14, 2008 - 8:36am | News

Iceland observes the biggest banking collapse in history. The collapse of krona and nationalization of the country’s three largest banks started in early October. It forced the country to secure help from IMF, left Iceland’s economy and the head of central bank Mr. David Oddsson’s reputation in tatters. During the last two months the actions of protest were held in Reykjavik’s main square. Each Saturday the protesters called for Oddsson’s removal from office.

banking system | collapse | IMF | loan | NATO

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